Thursday, November 14 2019 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
SINGAPORE - A new research note from ANZ Bank says GDP growth slowed in the first quarter of 2019 in the six Asian economies - Indonesia, Malaysia, Singapore, Taiwan, South Korea, and the Philippines - that have released data so far.
MUMBAI- In its monthly research report on India, ANZ Bank says economic indicators point to broad-based weakness in the economy, warranting a downgrade of its previous growth forecasts.
HONG KONG - S&P Global Ratings today assigned its 'A+' long-term issue rating to the Chinese renminbi-denominated bond that Agricultural Development Bank of China proposes to issue.
BEIJING - The People's Bank of China has issued RMB 200 billion (US$ 29 billion) of medium-term lending facility loans, according to a Caixin report.
PARIS - Even if it is generally relatively spared by recessions, the luxury market must adapt to a profoundly changing economy if it does not want to lose its exceptional status, says global credit insurer Coface, pointing to counterfeiting, e-commerce and Chinese consumer importance.
HONG KONG - A batch of April economic indicators announced by China today, together with previously-released trade and credit data, suggest that the risk of growth deceleration loomed large even before escalation of US-China trade war in early May, according to a research report by the European banking group BBVA.
BANGKOK - Thailand has taken a further step towards deregulating a number of back office activities, with the Cabinet approving draft Ministerial regulations prepared last year by the Ministry of Commerce.
BANGKOK - ANZ Bank has lowered its 2019 growth forecast for Thailand to 3.2% from 3.8% previously to reflect poor economic data year-to-date and multiple economic challenges. It has also knocked its 2020 growth forecast - to 3.3% from 3.6%.
SEOUL - South Korea's President, Moon Jae-in, is urging the leaders of North Korea and the U.S. to immediately hold a face-to-face meeting to resolve issues involving the North.
SINGAPORE- Foreign investors' holdings of Chinese domestic bonds could rise to $500 billion in the next one to two years, raising China's exposure to the global financial cycle, according to a report published today by ratings agency Standard and Poors. The report says China's bond market will also increasingly affect financial conditions across Asia-Pacific.
GUANGZHOU - Xinhua, China's State newsagency, is reporting that it is now possible in Guangdong province for entities and individuals to use a number of uninhabited islets for purposes such as tourism and aquaculture.
TAIPEI - Taiwan's Ministry of Foreign Affairs (MOFA) has condemned China "in the strongest possible terms" for blocking Taiwan's participation in the 72nd World Health Assembly meeting from May 20-28 in Geneva -- on the basis of the 'one China principle'.
SINGAPORE - There was a distinct divergence in foreign portfolio flows into Asia ex-China in April, with equities recording the largest monthly inflow since March 2017 and the debt market experiencing the largest broad-based outflows since November 2016.
BEIJING - China's State Council has decided to continue preferential corporate income tax policies for integrated circuit (IC) and software companies. The State newsagency, Xnhua, reported that China will also seek more investment from home and abroad to participate in and promote development of the two sectors.
SEOUL - South Korea's President, Moon Jae-in, and U.S. President Donald Trump have discussed by phone how to maintain dialogue with North Korea and resume denuclearisation talks as early as possible.
SINGAPORE - S&P Global Ratings said today that the Goods and Services Tax (GST) regime in India will not significantly reduce the deficits of Indian state governments.